Thurston Springer Miller Herd & Titak Inc. Makes New $201,000 Investment in Caterpillar Inc. (NYSE:CAT)

Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 603 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new stake in Caterpillar in the first quarter valued at approximately $27,000. Fairman Group LLC bought a new stake in Caterpillar in the first quarter valued at approximately $29,000. Finally, Vima LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $30,000. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. TD Cowen upped their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Citigroup initiated coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus target price of $335.00.

Caterpillar Stock Performance

Shares of CAT traded up $9.62 during trading hours on Tuesday, hitting $326.42. The company had a trading volume of 5,070,305 shares, compared to its average volume of 2,758,753. The firm has a market cap of $159.64 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.12. The business has a fifty day moving average of $334.08 and a 200-day moving average of $338.25. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a $1.41 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.73%. Caterpillar’s dividend payout ratio is presently 25.46%.

Caterpillar announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the transaction, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the transaction, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the transaction, the insider now directly owns 71,115 shares in the company, valued at $25,380,943.50. The disclosure for this sale can be found here. Insiders have sold 24,863 shares of company stock valued at $8,837,714 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.